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When calculating your mortgage payment costs remember to take in
consideration PMI (Private Mortgage Insurance) and Monthly Taxes
Private Mortgage Insurance
You'll have to pay private mortgage insurance if you end up
borrowing more than 80 percent of your home's value. It might be
cheaper to take out a home equity loan.
Tax Advantage
Interest paid on your account may be tax deductible on the first
$100,000 of home equity indebtedness and up to 100% of your home's
value. Always consult with a tax advisor regarding your particular
situation.
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